Dubai Duty Free Achieves New Annual Record Sales of Dhs7.901 billion (US$2.164 billion) in 2024
December finished with record monthly sales
The New Year began on a high note for Dubai Duty Free with the operation announcing a new annual sales record of Dhs7.901 billion (US$2.164 billion) for 2024, with a major surge in sales happening towards the end of the year.
The month of December set a record with sales of Dhs821.944 million (US$225.190 million), a 2% increase over same month of last year. They were fueled by Dubai Duty Free’s 41st anniversary celebrations when the operation offered a 25% discount on 20th December, and which resulted in a shopping spree of Dhs59.993 million (US$16.436 million) during the 24-hour period. This performance followed strong sales in November 2024 which was also higher than the same month last year. Confectionery was the best-performing category in December with sales up 29.46% over December 2023.
Reflecting on the year at Dubai Duty Free, Managing Director, Ramesh Cidambi, said: “We had a terrific November and December and the last week in December was particularly good with the staff really pushing hard to get beyond 2023’s record year. Despite all the major renovations and refurbishments that took place, I am very happy with the way the year has turned out.
“I am very grateful for the support that I have from our Chairman, H.H. Sheikh Ahmed bin Saeed Al Maktoum and I join His Highness in thanking our front and back-office staff, our suppliers and our customers for their contribution towards another great year.”
The operation recorded over 20.733 million sales transactions throughout the year, an average of 56,649 sales transactions per day, while a staggering 55.137 million units of merchandise were sold. It is also estimated that over 13.7 million customers shopped in DDF’s Arrivals and Departures stores in 2024.
The top five selling categories for the year were Perfumes followed by Liquor, Cigarettes & Tobacco, Gold and Electronics. With sales of Dhs1.50 billion (US$411 million), Perfumes contributed 19% of total sales and retained its position once again as the top selling category with growth of 9.79% over last year. Sales of Liquor reached Dhs1.056 billion (US$289 million) and accounted for 13% of the total annual sales with a decline of 6.6% over last year.
Meanwhile, Cigarettes & Tobacco recorded sales of Dhs807 million (US$221 million) and contributed 10% towards total revenue with growth of 8.27% over last year. Gold came in fourth place with sales amounting to Dhs779. million (US$213 million) and accounted for 10% of total revenue and just higher last year. Electronics came in fifth place with sales of Dhs546. million (US$149million) and accounted for 7% of total annual sales but dropped 13% compared to last year.
Online sales topped Dhs197 million (US$54 million) accounting for 2.5% of the overall sales tally for 2024.
Sales in Departures across the operation was Dhs7.121 billion (US$1.951 billion) representing 90% of total annual sales and grew 0.84% over last year, while Arrivals sales totaled Dhs537 million (US$147 million), representing 6.8% of total annual sales and declined 12.21% over last year.
Meanwhile, in line with the growth of the operation, the recruitment of staff continued in 2024 with total staff numbers now at 6,030 comprising 54 different nationalities. Commenting on the recruitment strategy of this year, Mr. Cidambi noted, “In addition to adding to our diverse sales force this year we also strengthened our senior management team with the recruitment of 8 senior managers in key roles, which include 7 UAE Nationals. The new senior managers have integrated very well and are a key part of our 5-year business plan (2025-2029).”.
Throughout the year, the operation received a total of 17 awards, including its 23rd consecutive Business Traveller Middle East Award for “Best Airport for Duty Free Shopping in the Middle East”, the Trazees Award for “Favorite Duty-Free Shopping” and the eighteenth consecutive Global Traveler Award for “Best Duty-Free Shopping in the World.”
Looking ahead, Dubai Duty Free will continue to enhance its retail operation which includes the completion of the last phase of renovations in the Arrival shops in the three terminals with construction to be finished in early 2025.
This will be followed by major refurbishment in Concourse B of the Luxury Watches and Electronics shops that will span 2025 and 2026. Also in 2025, Concourse A will see a major renovation of the Perfumes and Cosmetics shops on the East and West sides, renovation of the Gifts from Dubai offer and the opening of three new boutiques for major Fashion brands. Due to the extent of work in Concourse A, the renovation is expected to start in early 2025 and finish by late 2026.
In addition, Dubai Duty Free will continue to maintain its events and promotional calendar which includes the Dubai Duty Free Tennis Championships to be staged at the Dubai Duty Free Tennis Stadium from the 16th February – 1st March. 2025.
